Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., announced the launch of three enhanced Lloyd’s-led terror facilities in the Singapore, Latin American and Dubai markets.
In response to the increasing demand for this distinctive coverage, these facilities offer a full range of political violence perils, including war coverage.
The facilities are led by Talbot with capacity provided by Sompo Canopius for the Singapore Facility and by Sompo Canopius, Navigators and Neon for the Latin American and Dubai Facilities. The facilities will write terror risk of up to $150 million on any one risk in Singapore and $175 million on any one risk in both Latin America and Dubai.
“The threat of terror is an ever increasing issue our clients face today,” said Steven Tebbutt, global practice leader for Political Violence at Talbot.
“In response to the increasing demand, these facilities have been tailored with broader cover and increased capacity to enable us to provide solutions and enhanced limits to our clients,” he added.
Talbot also recently announced the launch of the only Lloyd’s led consortium for nuclear, biological, chemical and radiological (NBCR) terrorism.
About Talbot Underwriting
Talbot Underwriting Ltd. operates within the Lloyd’s insurance market through Syndicate 1183, which had capacity for the £600 million for the 2016 underwriting year of account. Syndicate 1183 focuses on underwriting a number of specialty risks including marine, aviation, transport, energy, terrorism, political risk, accident and health, construction, contingency, financial institutions, property and treaty reinsurance.
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